AT&T Inc. (NYSE:T) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Monday. They presently have a $40.45 target price on the stock. Vetr‘s price objective points to a potential upside of 3.16% from the company’s previous close.
A number of other research analysts have also issued reports on the company. Citigroup Inc. reaffirmed a “buy” rating and set a $55.00 target price on shares of AT&T in a report on Monday, October 24th. Deutsche Bank AG reaffirmed a “buy” rating and set a $45.00 target price on shares of AT&T in a report on Tuesday, October 11th. Barclays PLC lowered AT&T from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $45.00 to $39.00 in a report on Wednesday, October 26th. Zacks Investment Research lowered AT&T from a “buy” rating to a “hold” rating in a report on Monday, July 25th. Finally, Oppenheimer Holdings Inc. reaffirmed a “buy” rating and set a $46.00 target price on shares of AT&T in a report on Tuesday, October 25th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $41.24.
AT&T (NYSE:T) traded up 1.24% on Monday, hitting $39.21. 10,844,449 shares of the stock were exchanged. AT&T has a 52 week low of $33.01 and a 52 week high of $43.89. The company’s 50-day moving average is $37.67 and its 200-day moving average is $40.24. The company has a market cap of $240.79 billion, a PE ratio of 16.68 and a beta of 0.35.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 4.90%. The ex-dividend date was Wednesday, October 5th. AT&T’s payout ratio is presently 81.70%.
In other news, Director Geoffrey Y. Yang acquired 27,129 shares of the firm’s stock in a transaction dated Tuesday, October 25th. The shares were bought at an average price of $36.91 per share, with a total value of $1,001,331.39. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.07% of the company’s stock.
A number of hedge funds have recently made changes to their positions in T. Ashburton Jersey Ltd bought a new stake in shares of AT&T during the third quarter valued at approximately $2,333,000. First Heartland Consultants Inc. raised its stake in shares of AT&T by 7.6% in the third quarter. First Heartland Consultants Inc. now owns 99,597 shares of the company’s stock valued at $4,045,000 after buying an additional 7,076 shares in the last quarter. Monroe Bank & Trust MI raised its stake in shares of AT&T by 2.9% in the third quarter. Monroe Bank & Trust MI now owns 43,755 shares of the company’s stock valued at $1,610,000 after buying an additional 1,213 shares in the last quarter. Accident Compensation Corp raised its stake in shares of AT&T by 2.5% in the third quarter. Accident Compensation Corp now owns 271,025 shares of the company’s stock valued at $11,006,000 after buying an additional 6,500 shares in the last quarter. Finally, Efficient Advisors LLC bought a new stake in shares of AT&T during the third quarter valued at approximately $202,000. 53.97% of the stock is currently owned by institutional investors and hedge funds.
AT&T Inc is a holding company. The Company offers communications and digital entertainment services in the United States and the world. It operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.